Wholesaling (west):
Increased scepticism

After the upward trend in the previous month, the business climate in west German wholesaling has cooled considerably: in both the assessments of the current situation as well as the business outlook, the negative responses gained ground. In east Germany the business situation and expectations trended upward, but unfavourable responses dominate here as well. Again, an increasing number of firms in west Germany plan to cut back orders in the coming months.